Course description
Combating Fraud in Construction
Fraud can affect all types of businesses and industries, and the construction industry is no exception. Recent statistics indicate that construction fraud is as high as 10 percent of total construction revenues annually. This would mean that fraud costs the construction industry over $100B in the U.S. each year. Given the fast-paced nature of most construction projects, identifying and preventing fraud can be extremely challenging. Project controls, record keeping, and due diligence reviews can sometimes fall by the way side as parties scramble to complete projects on time and on budget, thereby making construction projects susceptible to fraud. This topic helps construction industry professionals understand the risks associated with construction fraud as well as some of the more common types of fraud found within the construction industry. The topic will also help you identify potential signs that fraud is occurring and procedures that can help reduce the risks of fraud. While eliminating construction fraud entirely is unlikely, this topic is essential for construction professionals to mitigate the risks of construction fraud and consequently help reduce the financial losses stemming from construction fraud.
Learning Objectives
Do you work at this company and want to update this page?
Is there out-of-date information about your company or courses published here? Fill out this form to get in touch with us.
Who should attend?
Training content
- Introduction to Fraud
- What Is Fraud?
- Fraud in the Construction IndustryTypes and Examples of Construction Fraud
- Bid Rigging
- Corruption
- Asset Misappropriation
- Other Types of Construction Fraud
- Construction Fraud Case ExamplesDetecting Construction Fraud
- Fraud at Various Stages of the Construction Process
- Common Signs of Fraud
- Auditing Construction Costs
- Bid Review/Comparison
- Change Order ReviewMitigating the Risks of Construction Fraud
- Audit and Other Contract Clauses
- Site Monitoring
- Segregation of Duties
- Competitive Bidding
- Monitoring Construction Costs
- Implementing and Maintaining Adequate Project Controls
- Retain Independent, Third Party Consultants/Professionals, If Needed
Costs
Contact this provider
Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...